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Technical & Derivatives Report
December 23
, 2019
Sensex (
416
) / Nifty
(1
)
Despite all the positive developments with respect to the US-
China trade deal and the BREXIT our markets witnessed a tepid
start for the week gone by. However, the Monday’s session was
only a breather as the bulls were in complete control thereon as
the Nifty continuously marked fresh new highs for the remaining
part of the week. Nifty ended the week with gains of 1.53% at
12272.
For the last few weeks, we have been advocating for the targets
of 12250-12300 and these targets have been met (high 12293).
The bias continues to remain positive and one can expect the
extension of this rally towards 12400-12500 levels. Since now
prices are moving away from key averages we may see some in-
between dips however one should avoid contra bets and should
use such dips as a buying opportunity. As far as levels are
concerned the support base shifts higher towards 12200-12150
levels.
Now December ends are well known for midcap rallies some call
it Santa Rally while some call it Mutual Fund NAV rally and in the
last few sessions we have already seen broader market
participation supporting the rationale of December end rally.
Thus we advise, to focus on such mid-cap space which is likely to
provide outperforming opportunities in the near term. In addition,
PSU banking stocks were back in action on Friday and are likely
to continue with their positive momentum.
Key Levels
Support 1 – 12200 Resistance 1 – 12300
Support 2 – 12150 Resistance 2 – 12360
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
32
385
)
During the week gone by, the positive momentum continued in
Bank Nifty as it ended with weekly gains of 1.16% at 32385.
During the intra-week, the bank index traded within a range
with positive bias for the most part of the week and on Friday
it broke above the trading range to continue its northward
journey in the uncharted territory. On the weekly chart, prices
have closed above the last three week's similar highs around
32150 which indicates a continuation of uptrend in the near
term. Traders are hence advised to keep positive bias and use
dips as a buying opportunity. As far as levels are concerned,
immediate support is placed around 32150-31880 levels
whereas projected targets for the near term are placed around
32800-33000 levels.
Key Levels
Support 1 – 32150 Resistance 1 – 32800
Support 2 – 31880 Resistance 2 – 33000
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
December 23
, 2019
Nifty Vs OI
Views
After many attempts, finally we saw index hitting fresh
record highs last week. We began the week on a
positive note and then the upmove continued
throughout the week to eventually conclude tad above
12250 mark.
FIIs were net buyers in the cash market segment to the
tune of Rs. 339 crores. In index futures, they bought
worth Rs. 708 crores with some rise in open interest,
suggesting fresh long formation in the last trading
session.
In F&O segment, fresh buying was seen in both Nifty as
well as BankNifty. Though, the banking index
underperformed the benchmark but due to Friday’s
recovery BankNifty could manage to conclude with the
gain of 0.86%. Put writers continued their writing streak
in Nifty resulting base shifting higher from 12000 to
12200. The overall development in the last week hints
continuation of this ongoing rally towards
12400-12500 mark. Hence, traders are advised using
intraday decline to add-on fresh long positions for this
truncated expiry week.
Comments
The Nifty futures open interest has increased by 1.05%
Bank Nifty futures open interest has increased 10.39% as
market closed at 12271.80 levels.
The Nifty December future closed with a premium of
18.20 points against a premium of 9.25 points in last
trading session. The January series closed at a premium
of 71.80 points.
The INDIA VIX has increased from 12.12 to 12.32.
At the same time, the PCR-OI of Nifty has decreased
from 1.90 to 1.73.
Few of the liquid counters where we have seen high cost
of carry are NBCC, NATIONALUM, MANAPPURAM, OIL
and AMARAJABAT.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AMARAJABAT 1778200 20.68 721.45 -0.82
RAMCOCEM 1189600 15.18 758.70 -0.37
DISHTV 128572700 14.54 14.00 6.84
VEDL 78774500 13.49 144.25 -3.01
EXIDEIND 12441800 9.89 177.95 -1.41
TATASTEEL 27127085 9.58 461.00 3.18
OIL 6152190 9.50 151.25 -0.20
MGL 2152200 8.37 1065.55 0.20
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
UNIONBANK 19530000 -14.02 59.15 4.40
L&TFH 29165200 -10.97 116.60 1.26
ULTRACEMCO 2582400 -6.07 4120.40 1.94
ASHOKLEY 60946000 -5.75 80.40 -0.43
SRF 772500 -5.74 3326.45 0.08
YESBANK 224886200 -5.68 51.40 2.30
IBULHSGFIN 23828400 -5.57 299.35 1.79
BERGEPAINT 10109000 -5.32 506.80 0.41
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.73 1.11
BANKNIFTY 1.43 0.88
RELIANCE 0.70 0.71
ICICIBANK 0.94 0.56
INFY 0.61 0.46
Historical Volatility
SCRIP HV
NESTLEIND 25.42
TORNTPOWER 29.06
SRTRANSFIN 37.71
TITAN 31.82
KOTAKBANK 22.17
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Technical & Derivatives Report
December 23
, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot
=
12
271.80
Lot Size = 75
FII Statistics for
December
20
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3190.19 2481.71 708.48
186655 16329.13 0.84
INDEX
OPTIONS
119252.91 118441.22 811.69
629582 54938.71 8.84
STOCK
FUTURES
27037.33 25858.04 1179.29
1597052 100990.63 0.15
STOCK
OPTIONS
5259.85 5245.96 13.89
60511 3491.13 (4.78)
Total 154740.28
152026.93
2713.35
2473800
175749.60
2.15
Turnover on
December
20
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
211462 16365.30 -4.93
INDEX
OPTIONS
7697639 573488.85 -78.63
STOCK
FUTURES
1290737 78853.91 46.64
STOCK
OPTIONS
971087 63469.33 9.18
TOTAL 1,01,70,925
732177.39 -73.96
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12300 50.30
36.20 63.80 12336.20
Sell 12400 14.10
Buy 12300 50.30
46.95 153.05 12346.95
Sell 12500 3.35
Buy 12400 14.10
10.75 89.25 12410.75
Sell 12500 3.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12200 62.05
33.65 66.35 12166.35
Sell 12100 28.40
Buy 12200 62.05
47.55 152.45 12152.45
Sell 12000 14.50
Buy 12100 28.40
13.90 86.10 12086.10
Sell 12000 14.50
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 23
, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 366 369
374 377 381
ASIANPAINT 1,787 1,793
1,801 1,807 1,815
AXISBANK 732 736
741 745 751
BAJAJ-AUTO 3,172 3,188
3,214 3,230 3,256
BAJFINANCE 4,057 4,096
4,121 4,160 4,185
BAJAJFINSV 9,218 9,249
9,291 9,322 9,364
BPCL 483 485
489 491 495
BHARTIARTL 439 446
453 461 468
INFRATEL 244 249
256 260 268
BRITANNIA 3,020 3,071
3,114 3,165 3,207
CIPLA 457 462
468 472 479
COALINDIA 193 197
200 204 206
DRREDDY 2,841 2,852
2,867 2,878 2,892
EICHERMOT 21,795 22,008
22,304 22,517 22,812
GAIL 115 117
119 121 122
GRASIM 738 742
745 749 752
HCLTECH 561 566
570 574 578
HDFCBANK 1,273 1,285
1,292 1,304 1,312
HDFC 2,356 2,380
2,402 2,427 2,449
HEROMOTOCO 2,334 2,364
2,394 2,424 2,454
HINDALCO 213 214
216 217 219
HINDUNILVR 1,916 1,930
1,945 1,958 1,973
ICICIBANK 535 540
545 551 555
IOC 126 127
128 129 130
INDUSINDBK 1,467 1,477
1,493 1,503 1,519
INFY 725 728
732 735 738
ITC 237 239
242 244 247
JSW STEEL 261 263
265 267 269
KOTAKBANK 1,664 1,679
1,701 1,716 1,739
LT 1,295 1,303
1,316 1,324 1,336
M&M 522 526
533 537 544
MARUTI 7,188 7,225
7,264 7,301 7,341
NESTLEIND 13,930 14,394
14,686 15,150 15,442
NTPC 113 114
115 115 116
ONGC 124 124
126 126 128
POWERGRID 184 185
186 187 189
RELIANCE 1,583 1,591
1,604 1,612 1,626
SBIN 327 332
336 341 345
SUNPHARMA 423 427
432 435 440
TCS 2,188 2,205
2,226 2,244 2,264
TATAMOTORS 171 173
178 180 184
TATASTEEL 436 448
456 469 476
TECHM 773 778
783 788 793
TITAN 1,143 1,172
1,189 1,219 1,236
ULTRACEMCO 3,976 4,048
4,097 4,170 4,219
UPL 551 565
573 586 595
VEDANTA 139 141
146 149 153
WIPRO 244 248
251 255 257
YESBANK 46 49
51 54 56
ZEEL 276 280
284 288 292
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Technical & Derivatives Report
December 23
, 2019
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cs[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]angelbroking.com
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